BTIG Research Increases Starbucks (NASDAQ:SBUX) Price Target to $115.00

Starbucks (NASDAQ:SBUX) had its price objective hoisted by analysts at BTIG Research from $100.00 to $115.00 in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the coffee company’s stock. BTIG Research’s price objective points to a potential upside of 18.75% from the company’s current price.

A number of other analysts have also issued reports on the stock. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Bank of America raised their target price on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Price Performance

Shares of SBUX opened at $96.84 on Thursday. The firm has a 50 day simple moving average of $94.90 and a 200-day simple moving average of $84.73. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a market cap of $109.69 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the company posted $1.00 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Starbucks will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Starbucks in the 1st quarter valued at about $415,167,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.